VOL. XXXVI
NO. 34
24-MAY-1993
Financial and Banking News
ECONOMIC INDICATORS
Yemen Introduces Another Exchange Rate For The Riyal
Yemen is to allow foreign oil companies and tourists to buy local currency atthe preferential rate of $1=YR25, compared to the official rate of $1=YR12. Theunofficial rate is close to $1=YR50. In February 1992 Yemen introduced a newexchange rate of $1=YR18 for all imported commodities with the exception ofbasic goods such as wheat, flour, rice and pharmaceuticals (MEES,...
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